GBFPL is planning to launch a slew of beverages, snacks and confectionery brands in the next six months. It is currently setting up a distribution network to market its brands across the country. Mahendran will be the chairman and managing director of GBFPL.
Mahendran said this investment marks a significant Indo-Japanese partnership to fund and build a consumer-oriented company in India. I am keen to partner with Goldman Sachs and MGI as both are leaders in their fields and bring a global perspective to our business. Starting this venture with them will enable us to launch new products for Indian consumers, he added.
According to Ankur Sahu, co-head of private equity in Asia at Goldman Sachs, by backing local entrepreneurs, Goldman Sachs has successfully built platforms in sectors with tremendous market opportunity in India, including power and healthcare. Leveraging our global expertise and relationships, we are excited now to partner with Mahendran and MGI to build a consumer-oriented company in India, he added.
Tom Yoshida, president of Mitsui Global Investment, said, MGI will fully support GBFPL to be a distinguished player in the Indian market.
Mahnedran said GCFPL is planning to build a strong portfolio of consumer brands on the back of secular growth trends driven by increased consumption spending in India. We will work closely with our inventors to launch consumer brands and a national distribution network this year, he added.